Spring Lake, North Carolina Property Taxes
The median property tax rate in Spring Lake, NC is 0.74%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Spring Lake at $224,285, the typical annual property tax bill is around $1,603, significantly below the national median of $2,690. Property taxes in Spring Lake are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Spring Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Spring Lake or another part of Harnett County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spring Lake, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,660
Ownwell’s SPRING LAKE Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in SPRING LAKE with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in SPRING LAKE to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the amount determined by Harnett County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Spring Lake, North Carolina
Property taxes in Spring Lake, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Lake is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Spring Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Lake estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Spring Lake's effective property tax rate to other areas in Harnett County and the national median. For comparison, the 28390 zip code has both the highest and lowest median property tax rate of 0.74%. Understanding how these areas compare with Spring Lake provides valuable insights into the varying tax landscape across Harnett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spring Lake Tax Rate
0.74%
Average Harnett County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spring Lake, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28390 | 0.63% | 0.73% | 0.74% | 0.76% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Spring Lake, North Carolina
In Spring Lake, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Harnett County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Spring Lake, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Spring Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Spring Lake is $224,285, with the highest and lowest median tax bills both recorded at $1,603 in the 28390 zip code.
Property Tax Assessment Values Across Spring Lake, North Carolina
Source: Ownwell
$124,172
$203,073
$281,974
Average Spring Lake Assessed Value
$224,285
Average Harnett County Assessed Value
$199,846
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spring Lake, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28390 | $69,869 | $135,330 | $224,285 | $289,836 | $344,665 |
Source: Ownwell
Property Tax Bills Across Spring Lake, North Carolina
In Spring Lake, located in Harnett County, NC, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county's tax assessor and reflects the property's market value. Homeowners in Spring Lake typically face a median property tax bill of $1,603, which aligns with the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For instance, the median home price in Spring Lake is $224,285. Depending on the property's value and applicable exemptions, tax bills can range significantly, from the 25th percentile at $1,003 to the 90th percentile at $2,454. For homeowners, understanding these factors is crucial as property taxes contribute to local services and infrastructure. Keeping abreast of changes in assessed values and tax rates can help in managing financial expectations and obligations.
Average Spring Lake Tax Bill
$1,603
Average Harnett County Tax Bill
$1,570
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Spring Lake, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28390 | $548 | $1,003 | $1,603 | $2,072 | $2,454 |
Source: Ownwell